Bilibili Inc. Announces First Quarter 2019 Financial Results SHANGHAI, May 13, 2019 -- Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI), a leading online entertainment platform for young generations in China, today announced its unaudited financial results for the first quarter ended March 31, 2019. First Quarter 2019 Financial and Operational Highlights: • Total net revenues reached RMB1,373.5 million (US$204.7 million), a 58% increase from the same period in 2018. • Net loss was RMB195.6 million (US$29.2 million) and net loss margin was 14%, compared to net loss of RMB57.8 million and net loss margin of 7% in the same period in 2018. • Adjusted net loss1 was RMB145.4 million (US$21.7 million) and adjusted net loss margin1 was 11%, compared to adjusted net loss of RMB3.2 million and adjusted net loss margin of 0.4% in the same period in 2018. • Average monthly active users (MAUs2) reached 101.3 million, mobile MAUs reached 88.6 million, representing increases of 31% and 39% from the same period in 2018, respectively. • Average monthly paying users3 reached 5.7 million, a 132% increase from the same period in 2018. Average monthly paying users for mobile games reached 1.0 million, a 23% increase from the same period in 2018. “We began the year on a strong note with continued growth of both our user base and topline,” said Mr. Rui Chen, Chairman of the Board and Chief Executive Officer of Bilibili. “With an increasing number of talented content creators producing diverse, high quality content, along with our expanding live-broadcasting and comics offerings, we are attracting more users to our platform and gaining substantial traction. For the first quarter, our MAUs grew by 31% to 101.3 million and our mobile MAUs grew by 39% to 88.6 million, both on a year-over-year basis. At the same time, our user engagement is higher than ever reaching a milestone of 30 million DAUs in the first quarter. Looking ahead, our focus for 2019 remains on continued user growth and enhancing our commercialization capabilities. We have a number of initiatives underway to support this goal, including rolling out new and diversified games titles, further advancing our live broadcasting and value-added service streams, and progressing our new business initiatives for our growing community.” Mr. Sam Fan, Chief Financial Officer of Bilibili said, “During the first quarter, our total net revenues increased 58% year-over-year reaching RMB1.37 billion, exceeding the high-end of our guidance. We maintained a healthy revenue mix, with our non-games business lines growing by 179%, year-over-year. As our commercialization strategy progresses, the number of average monthly paying users more than doubled in the first quarter reaching 5.7 million, particularly across our games, premium memberships and comic businesses. We are also pleased to...
